General Capital invests US$ 500m in Pine Gate Renewables to expand utility-scale solar
- Sustainable framework investment firm General Capital has actually invested US$ 500 million in United States programmer Pine Gate Renewables to sustain its utility-scale solar development.
The investment will be divided right into US$ 200 million in equity investment and US$ 300 million in long-term possession collaboration to fund solar projects. As part of the investment, General Capital will sign up with the board of supervisors of Pine Gate.
The solar as well as power storage space designer currently operates greater than 1GW of renewable energy projects.
Moreover, it has a pipeline of 20GW in energetic advancement throughout the United States and also has increased over US$ 1 billion in corporate and also project capital funding in the last six months.
Ben Catt, Chief Executive Officer of Pine Gate, said: "Generate is a collective, experienced partner and shares Pine Gates' lasting vision of driving the power shift and also boosting energy security by giving solar power and battery storage to regional areas throughout the country. Pine Gate is well-positioned as we continue to expand our national existence."
Last May, Pine Gate signed 2 separate memorandum of understanding (MoU) for non-lithium battery supply with Urban Electric Power as well as EnerVenue.
